real estate advice: Where are all of the Buyers?
- 06/19/09 04:32 AM
How many Buyers are discouraged when they talk to a Lender and are told that a 20% down payment and a mid 700 credit score is required to obtain a loan? I wonder if any of these Buyers have the courage to get a "second opinion" or if the humiliation causes them to disappear from the buying pool indefinitely. The FHA Loan Program and Rural Development Loan Program offer excellent opportunities for Buyers, with more modest credit scores, to purchase a home at a time when interest rates are lower, home prices are reasonable and the $8000 First Time Home Buyers Tax Credit is available. The FHA Loan Program requires only a 3.5% … (4 comments)
How many Buyers are discouraged when they talk to a Lender and are told that a 20% down payment and a mid 700 credit score is required to obtain a loan? I wonder if any of these Buyers have the courage to get a "second opinion" or if the humiliation causes them to disappear from the buying pool indefinitely. The FHA Loan Program and Rural Development Loan Program offer excellent opportunities for Buyers, with more modest credit scores, to purchase a home at a time when interest rates are lower, home prices are reasonable and the $8000 First Time Home Buyers Tax Credit is available. The FHA Loan Program requires only a 3.5% … (4 comments)
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